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Nuton Acquires Common Shares of Regulus Resources

30.01.2023  |  Business Wire

Rio Tinto venture Nuton LLC ("Nuton") has completed an arm's length non-brokered private placement financing with Regulus ("Regulus" or the "Company") for a strategic investment of US$15 million (C$20,460,1531) (the "Financing").

Pursuant to the Financing, Nuton was issued 20,058,974 common shares in the capital of the Company (each, a "Common Share") at an issuance price equal to C$1.02 per Common Share. Upon completion of the Financing, Nuton acquired beneficial ownership and control over 20,058,974 Common Shares representing 16.1% of the issued and outstanding Common Shares on completion on a non-diluted basis.

In connection with the Financing, Regulus and Nuton have entered into a collaboration agreement wherein Nuton was granted certain investor rights, including allowing Nuton to maintain its equity interest in Regulus if it maintains said interest above 10%. Additionally, Nuton shall be allowed to nominate a director to the board of directors of Regulus. The Company and Nuton have agreed to form a joint advisory committee to share expertise, exploration concepts and discuss development opportunities at the Company's AntaKori project in Peru. The Company has granted exclusivity to Nuton in the area of novel, patented or trade secret leaching technologies, for a period of one year after the delivery of metallurgical samples from AntaKori to Nuton for testing. For a one-year period, Nuton has agreed to not sell any share of Regulus, acquire greater than a 19.9% interest in the Company and vote its common shares in favour of each director nominated by the Company. Nuton acquired the Common Shares for investment purposes.

This news release is issued pursuant to the early warning requirements of Canada's National Instrument 62-104 and National Instrument 62-103 with respect to common shares of Regulus Resources Inc.

For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial and territorial securities legislation in connection with the Transaction, please go to the Company's profile on the SEDAR website (www.sedar.com) or contact Rio Tinto's Group Company Secretary.

Notes to editors

Nuton is an innovative new venture that aims to help grow Rio Tinto's copper business. At the core of Nuton is a portfolio of proprietary copper leach-related technologies and capability - a product of almost 30 years of research and development. Nuton technologies offer the potential to economically unlock copper sulphide resources, copper bearing waste and tailings, and achieve higher copper recoveries on oxide and transitional material, allowing for a significantly increased copper production. One of the key differentiators of Nuton is the potential to deliver leading environmental performance, including more efficient water usage, lower carbon emissions, and the ability to reclaim mine sites by reprocessing mine waste.

1 Based on CAD/USD exchange rate on December 21, 2022, the date of announcement of the Financing.



Contact

Please direct all enquiries to media.enquiries@riotinto.com

Media Relations, UK
Matthew Klar
M+ 44 7796 630 637
David Outhwaite
M +44 7787 597 493

Media Relations, Americas
Simon Letendre
M +514 796 4973
Malika Cherry
M +1 418 592 7293

Media Relations, Australia
Matt Chambers
M +61 433 525 739
Jesse Riseborough
M +61 436 653 412

Investor Relations, UK
Menno Sanderse
M: +44 7825 195 178
David Ovington
M +44 7920 010 978
Clare Peever
M +44 7788 967 877

Investor Relations, Australia
Tom Gallop
M +61 439 353 948
Amar Jambaa
M +61 472 865 948

Rio Tinto plc
6 St James's Square
London SW1Y 4AD
United Kingdom
T +44 20 7781 2000
Registered in England
No. 719885

Rio Tinto Ltd.
Level 43, 120 Collins Street
Melbourne 3000
Australia
T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

riotinto.com

Category: General


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